Accounting

Accounting News & Professional Insight

Accounting Today delivers news, rankings, thought leadership, and analysis for accounting professionals so they can navigate change in standards, firm strategy, technology adoption, talent, and the overall business environment.

Accounting professionals are facing rapid transformation, including shifting professional standards, demographic change, technology disruption, practice consolidation, and changing expectations for advisory services. Our coverage surfaces these strategic dynamics and provides insights and analysis for firms, leaders, and the accounting profession.

Financial reporting

Mandatory RFP, Not Mandatory rotation

Robert Pozen suggests an alternative to audit firm rotation

July 1
Audit

Fitch Backs New GASB Pension Rules

Fitch Ratings said that two recently released pension accounting and financial reporting standards from the Governmental Accounting Standards Board are generally positive for state and local governments.

June 29
Audit

FASB Proposes New Rules for Disclosing Liquidity and Interest Rate Risks

The Financial Accounting Standards Board has proposed new standards to require companies to provide better disclosures of their liquidity and interest rate risks, as part of FASBs financial instruments project.

June 27
Associations

MACPA Launches XBRL Center

The Maryland Association of CPAs launched its new Center for Transparency, Performance, Management and Accountability using XBRL (TPMAx), with a special XBRL Thought Leader Symposium today.

June 26
Audit

GASB Approves New Pension Accounting and Reporting Standards

The Governmental Accounting Standards Board voted Monday to approve two new standards to improve the accounting and financial reporting of public employee pensions by state and local governments.

June 25
Audit

IAASB Offers Model for Future Auditors Report

The International Auditing and Assurance Standards Board has issued a new document outlining a possible approach to an improved auditors reporting model, while inviting the public to comment.

June 25
Audit

Why Private Companies Shouldnt Be Forced to Act Like Public Companies

The diversity of cars, motorcycles, vans and commercial trucks on the roads reminded me how logical it is that states require different levels of testing to become a licensed driver of different kinds of automobiles.

June 24

Resources

The latest Accounting Today research and discussion:

Predicting the next 15 years in accounting

Take a look at what the accountant and the accounting firm of the future will look like with AICPA chief Mark Koziel.

Sponsored by BILL
The changing world of government financial reporting

The serious new pressures facing governments of all sizes are changing their financial reporting, says GASB Chair Joel Black.

Sponsored by Intuit Quickbooks
Special Report Technology and CAS

Handling the compliance work that is the foundation of modern CAS while also creating time and insights for the advisory overlay that really drives its value to clients requires the careful deployment of a suite of technology tools — and that suite is constantly evolving, meaning accountants need a strategy to keep up.

Sponsored by Canopy

Accounting: Key Questions & Analysis

What are the key trends and strategies emerging from accounting industry leaders?

Top leaders are focused on structural challenges facing firms, including succession planning, evolving service mix, and long-term sustainability of traditional models.

How are accounting firms positioning themselves for the profession’s next phase?

Firm leaders are redefining and evaluating their strategy for growth. This includes investing in people and systems as well as rethinking how firms deliver value to address changing client needs and competition.

What role does professional identity play as accounting continues to change?

Debate continues over how accounting defines itself. This is due to accounting expanding into advisory, consulting, and technology-enabled services. These changes can raise questions about standards, training, and long-term credibility.

How are accounting firms managing leadership and succession risk?

Demographic shifts are accelerating in accounting. This means more firms are confronting leadership transitions and ownership succession which can create critical strategic risks that influence growth, culture, and valuation.